Compare product sales across time, stores, and customers, study market trends and anomalies, identify regions and product categories that need attention
The retail industry is one of the oldest industries that exists since ages and is still growing at a tremendous rate. Retail involves the process of buying and selling consumer goods or services through multiple channels of distribution to earn a profit.
At Nice, we design specialized business intelligence solutions that provide insights on this enormous sector that is emerging as one of the largest contributors to the world economy.
Industry Analysis in the Retail domain is the assessment of strengths and weaknesses of the potential competitor markets and how the retailer is performing in comparison to other retail market.
New products and retailers are constantly being introduced in the retail industry. It is important to do a quick and detailed analysis of data at different product levels.
We provide a complete end-to-end solution that helps you:
- Compare the sales of company products with respect to other retailer products
- Study the retailer growth compared to other markets
- Analyse retailer contribution to the fast growing market
- Analyse the retailer sale for a given time period
Balance of Power
The importance of mass distribution is growing constantly and has therefore deeply transformed the balance of power between producers and retailers. Retailers can choose among an ever increasing number of products. Producers on the other hand produce the products in demand. The consumers’ preferences can be interpreted by producers/retailers in terms of horizontal differentiation and this can be used to calculate the impact on pricing decisions.
We design and build applications that help retail companies collect and analyse:
- The key KPI’s for the suppliers of the selected category
- Category data for the selected supplier
- Brand data for the selected supplier or category
- Retailer share for the given time period
- Comparison of market share
- Growth comparison between retail and other markets
Sales analysis examines the category performance at different levels highlighting the drivers of performance. It gives them the analysis from subcategory to brand level. This is also helpful to analyse the areas and opportunities where they can increase the sales volume.
We provide the following high level solution for Sales Analysis:
- Sales performance of the market, region or territory for a particular time period
- Category and subcategory performance units(KPI’s)
- Contribution of one company product with respect to other company product
- Category and subcategory sales at various levels
Performance check is very necessary to see where the retailer stands in the market. To indicate the performance of a retailer, it is essential to have detailed information on activities performed in order to promote the sales of his goods and also how the customers have responded to it.
We build dashboards that give the following insights on the performance of the retailer:
- Number of customer or customer traffic
- Average purchase sales or average purchase value
- Number of items in per purchase
- Promotional sales based on value, volume and unit discounts
- Gross profit